GOODLUCK INDIA 2023-24 Annual Report Analysis

Tue, 24 Sep

GOODLUCK INDIA has announced its results for the year ended March 2024. Let us have a look at the detailed performance review of the company during FY23-24.

GOODLUCK INDIA Income Statement Analysis

• Operating income during the year rose 14.7% on a year-on-year (YoY) basis.
• The company's operating profit increased by 38.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 8.0% in FY24 as against 6.7% in FY23.
• Depreciation charges increased by 8.3% and finance costs increased by 18.3% YoY, respectively.
• Other income declined by 12.5% YoY.
• Net profit for the year grew by 50.6% YoY.
• Net profit margins during the year grew from 2.9% in FY23 to 3.8% in FY24.

GOODLUCK INDIA Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	30,720	35,248	14.7%
Other income	Rs m	148	130	-12.5%
Total Revenues	Rs m	30,868	35,377	14.6%
Gross profit	Rs m	2,044	2,822	38.1%
Depreciation	Rs m	326	353	8.3%
Interest	Rs m	655	775	18.3%
Profit before tax	Rs m	1,211	1,824	50.7%
Tax	Rs m	333	502	50.8%
Profit after tax	Rs m	878	1,323	50.6%
Gross profit margin	%	6.7	8.0
Effective tax rate	%	27.5	27.5
Net profit margin	%	2.9	3.8

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GOODLUCK INDIA Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 7 billion as compared to Rs 7 billion in FY23, thereby witnessing an increase of 2.1%.
• Long-term debt stood at Rs 1 billion as compared to Rs 909 million during FY23, a growth of 10.3%.
• Current assets rose 39% and stood at Rs 14 billion, while fixed assets rose 36% and stood at Rs 6 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 20 billion as against Rs 15 billion during FY23, thereby witnessing a growth of 38%.

GOODLUCK INDIA Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	5,993	11,010	83.7
Current Liabilities	Rs m	7,213	7,364	2.1
Long-term Debt	Rs m	909	1,003	10.3
Total Liabilities	Rs m	14,710	20,324	38.2
Current assets	Rs m	10,218	14,228	39.2
Fixed Assets	Rs m	4,492	6,096	35.7
Total Assets	Rs m	14,710	20,324	38.2

GOODLUCK INDIA Cash Flow Statement Analysis

• GOODLUCK INDIA's cash flow from operating activities (CFO) during FY24 stood at Rs -459 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -2 billion, an improvement of 138.3% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 3 billion, an improvement of 2,423% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 1 billion from the Rs 1 million net cash flows seen during FY23.

GOODLUCK INDIA Cash Flow Statement 2023-24

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-23	Mar-24
Cash Flow from Operating Activities	Rs m	649	-459	-
Cash Flow from Investing Activities	Rs m	-781	-1,862	-
Cash Flow from Financing Activities	Rs m	133	3,365	2,423.1%
Net Cash Flow	Rs m	1	1,044	122,724.7%

Current Valuations for GOODLUCK INDIA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 41.6, an improvement from the EPS of Rs 32.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,189.0, stands at 27.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 3.5 times, while the price to sales ratio stands at 1.1 times.
• The company's price to cash flow (P/CF) ratio stood at 14.5 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Sales per share (Unadj.)	Rs	1,126.9	1,109.5
TTM Earnings per share	Rs	32.2	41.6
Diluted earnings per share	Rs	26.8	40.4
Price to Cash Flow	x	11.6	14.5
TTM P/E ratio	x	15.9	27.9
Price / Book Value ratio	x	1.8	2.2
Market Cap	Rs m	10,776	24,377
Dividends per share (Unadj.)	Rs	4.5	6.0

Ratio Analysis for GOODLUCK INDIA

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.9x during FY24, from 1.4x during FY23. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 3.4x during FY24, from 2.8x during FY23. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company declined and down at 12.0% during FY24, from 14.7% during FY24. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

Return on Capital Employed (ROCE): The ROCE for the company declined and down at 21.6% during FY24, from 27.0% during FY23. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

Return on Assets (ROA): The ROA of the company declined and down at 10.3% during FY24, from 10.4% during FY23. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Current ratio	x	1.4	1.9
Debtors’ Days	Days	417	364
Interest coverage	x	2.8	3.4
Debt to equity ratio	x	0.2	0.1
Return on assets	%	10.4	10.3
Return on equity	%	14.7	12.0
Return on capital employed	%	27.0	21.6

To see how GOODLUCK INDIA has performed over the last 5 years, please visit here.

GOODLUCK INDIA Share Price Performance

Over the last one year, GOODLUCK INDIA share price has moved up from Rs 585.3 to Rs 1,189.0, registering a gain of Rs 603.7 or around 103.1%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 33,074.8 (up 2.8%). Over the last one year it has moved up from 22,716.0 to 33,074.8, a gain of 10,359 points (up 45.6%).

Overall, the S&P BSE SENSEX is up 27.1% over the year.

(To know more, check out historical annual results for GOODLUCK INDIA and quarterly results for GOODLUCK INDIA)